Welcome to Miller-Bookkeeping
Bookkeeping solutions designed for small businesses.
The Role of a Bookkeeping Service
There’s no way around it: a healthy bottom line depends on profit. Even one missed receipt or overlooked payment can wreak havoc on your finances, so maintaining a solid bookkeeping system is non-negotiable.
Instead of hiring an internal bookkeeper, many companies choose to partner with a bookkeeping service to fill the role without the overhead of employment. Bookkeeping services provide all the same functions as an internal bookkeeper, including:
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Recording financial transactions
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Managing company expenses
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Reconciling bank accounts
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Preparing financial statements
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Handling accounts receivable/accounts payable
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Assisting with tax compliance
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Working with your accountant or tax preparer
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Providing payroll services and support
Like business owners and operations managers, bookkeepers tend to wear many hats, all of which have to do with money and the financial health of your company.
Bookkeeper vs. Tax Professional
The term ‘bookkeeper’ is often used interchangeably with ‘tax professional’ or ‘accountant,’ and even though there is some overlap, the two are not the same.
Bookkeepers are involved in the day-to-day transactions of the business. They document all financial activity, such as purchases, received payments, payroll, and other expenses. Bookkeepers organize your financial data on an ongoing basis so that your records are always up-to-date, giving you a clear picture of your business finances so you can avoid overdrafts, make better business decisions, and maximize your future growth.
Like accountants, bookkeepers can prepare certain tax documents, such as W2s and 1099s. However, they do not prepare tax returns. Rather, bookkeepers play an integral role in helping you get your finances organized to hand over to your CPA.
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Benefits of an Outsourced Bookkeeper
Without experience in bookkeeping software, processes, and compliance, bookkeeping can easily be a full-time job, even for small mom and pop businesses. That’s why many Charlotte, NC companies choose to outsource bookkeeping services and avoid worrying about decimals and dollar signs.
Dedicated Outsourced Bookkeeper
Rather than saddling someone in your office with extra responsibilities, outsourcing gives you access to a professional bookkeeper that’s dedicated to the task. It’s an easy way to scale your business without taking on the extra overhead of hiring an employee or stretching your current staff too thin.
Business Finance Expertise
Bookkeepers have dedicated their entire careers to business finances, giving you access to the latest industry knowledge and expertise.
Small business owners who wear many hats may find it difficult to learn everything they need to know about maintaining proper financial records, generating reports, and finding opportunities to grow or save money. When you use a professional bookkeeping service, you don’t have to figure everything out on your own.
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Lower Operating Costs
Compared to accounting and CPA services, bookkeepers are an inexpensive option for maintaining your financial health. Your bookkeeper provides ongoing service throughout the year, which can save you time and money when it’s time to file taxes. You’ll have accurate, organized, up-to-date records so your accountant can get right to work and lower your overall accounting costs.
In addition, you’ll have an accurate financial snapshot year-round so you can identify opportunities to save money, control cash flow, make important purchases, and maintain your profitability.
No Conflict of Interest
Many business owners don’t want to disclose financial data to someone in-house, and that’s perfectly understandable. Some may even find themselves adding a bit of personal bias in recording transactions, and it’s easy to make minor exceptions that can add up to major errors.
With an outsourced bookkeeper, there’s no conflict of interest or room for bias. Your bookkeeper ensures the books are straightforward, honest, and accurate to reduce liability and fraud.
What to Look for in a Bookkeeping Service
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Just like your own business is unique in its market, not all bookkeeping services are created equal. When vetting your options, it’s imperative to consider what separates a good bookkeeping service from the best bookkeeping service.
Business Experience
Bookkeepers should have real business experience, not just theoretical knowledge of how a business works. You’ll get more for your money when you partner with a legitimate bookkeeping service, especially one that specializes in your industry or business type.
Availability
Popularity isn’t always a good thing when choosing a bookkeeping service. Make sure the service you choose has the bandwidth to serve you and can devote enough time and resources to do a job well done.
Accessibility
When you need to get in touch about a financial report or problem, you need a bookkeeper who will respond quickly. Good bookkeeping doesn’t stand in the way of doing business.
Flexibility
Your bookkeeper should be in tune with how you do business—not the other way around. Some companies prefer to get weekly snapshots on financials, while others want quarterly summaries and reports. Whatever you prefer, your bookkeeper should be willing and able to provide you with the data you need when you need it.
Hire a Local Bookkeeping Service in Charlotte, NC
Ready to do your business a favor? Miller Books, LLC is a local done-for-you bookkeeping service helping businesses in Charlotte, NC and nearby areas build a better bottom line.